Friday, January 11, 2019

Chico's to close 250 stores over 3 years

Retail Dive
Chico's FAS on Friday announced a "retail fleet optimization plan" that will shutter 250 stores over the next three years and include a review of the company's operations, according to a company press release. As of November, the company operated about 1,400 stores in the U.S. and Canada.

Looking ahead, the company said that comps are trending better than its previous outlook. By brand, fourth quarter comps for Chico's are in line with expectations, while White House Black Market comps are exceeding and Soma sales are well above expectations.. . . more